New AccountChek Client Summary Report

At Informative Research, we’re constantly looking for ways to help our clients get the most out of their data. Today, we’re excited to announce an update to the AccountChek dashboard that brings greater transparency to each stage of the borrower’s journey. With these improvements, lenders now have a clearer view into every step of the process, highlighting new opportunities to improve conversions and create a smoother experience for borrowers.

Why the Update?

Understanding where borrowers might pause or drop off in the verification process is crucial for lenders. Our updated dashboard reorganizes key reporting metrics, refining how we display each phase in the borrower’s journey. This change allows lenders to see exactly where each order is in the process and provides actionable insights into where the funnel can be optimized.

Watch the video below for a quick walkthrough of these changes:

What’s New? Key Metrics That Matter

1. Service Requested
   This metric captures the moment an order is started by the lender, and the borrower is sent a link to begin the verification process. This is where every journey begins.
   
2. Borrower Engaged
   Engagement starts when the borrower opens their dashboard. Whether they’re clicking the link sent by email or accessing it through their system, this step confirms that they’re ready to start the process.
3. Login Attempted
   Here, we track when the borrower enters their credentials for verification. Seeing a large number of borrowers reach this stage indicates strong initial engagement.
   
4. Login Successful
   Once the borrower’s credentials are accepted by their financial institution or payroll provider, we know connectivity is in place, and the verification process is on the right track.
5. Account Details Retrieved
   This metric signifies that enough data has been pulled from the borrower’s financial institution or payroll provider to complete the order. It’s the final, successful step in the report generation process.
   
6. Conversion Rate
   The conversion rate is calculated as the number of completed orders divided by the number of engaged borrowers, providing a clear view of how effectively the AccountChek service is performing.
   

Below is a preview of the new report, showing how each stage is laid out to make tracking the borrower’s journey straightforward.

Turning Data into Action

We’re confident that these changes will provide a more actionable view of your pipeline, making it easier to track the borrower’s journey from start to finish. By reorganizing our reporting, we’re aiming to empower lenders with the insights they need to streamline each step of the borrower’s experience, helping them identify areas for improvement and increase order completion rates.

If you have any questions about these updates or want to dive deeper into the new metrics, our team is here to help. We look forward to seeing how these insights make a difference in your workflow.